Sports Network

BUFFALO, N.Y. -- The Buffalo Sabres have scheduled a press conference for Tuesday morning, at which time Terry Pegula will be introduced as the franchise's new owner.

B. Thomas Golisano reached an agreement to sell the team and its related companies to the billionaire Pegula, the founder and former chief executive of East Resources, earlier this month. The NHL Board of Governors approved Pegula's purchase last week.

Pegula also donated $88 million to Penn State in September to help fund an arena and establish a Division I men's ice hockey program at the university.

The gift also paved the way for the creation of a Division I women's ice hockey program and enhanced figure skating opportunities, the school said at the time.